ExecuTrain Franchisees and Original Founder Complete Buyback

Today, ExecuTrain announced that a group of current ExecuTrain Franchise owners and an original founder completed the purchase of the assets of ExecuTrain Corporation, the world's leader in business technology training, from a group of investors.

Such buybacks by franchise owners are rare, and in terms of company size and high awareness of the ExecuTrain name, this is one of the most significant.

Andy Atkins, the new chairman of the board of ExecuTrain, said, "ExecuTrain is a highly respected brand name, and now we have the resources to back it up. Our team is a skilled, experienced group with an average of 20 years in the training industry. This proven experience, coupled with a unified, field-based management team, will help ExecuTrain rise to new levels of success and financial performance."

"A well-trained employee base is a huge competitive advantage for the Global 2000 companies we serve, and now we have everything in place to continue doing an exceptional job for them." Atkins is also president and chief executive officer of ExecuTrain of Philadelphia, which he established as one of the first ExecuTrain franchises.

Raymond Kelly, the newly appointed CEO of ExecuTrain and board member, said that the timing could not have been better. "Investments to educate employees in both licensed and proprietary technologies are on the rise. Companies need to gain ground quickly, and many are now increasing their training budgets. If a company wants to gain market share, it needs the ability to execute technologically. Our customer-focused solutions are so comprehensive that we can meet virtually any need."

In addition to the group of franchise owners, one of the original ExecuTrain founders, Michael Addison, was a part of the buyback and will serve as vice chairman of the board.

Addison is excited to return to the company, which he helped to nurture and grow before the ExecuTrain brand was purchased by a group of investors in 1996. "I am thrilled to be involved again with ExecuTrain, and especially pleased to be able to work as partners with the franchise owners in the execution of our new vision," Addison said. "Now the franchise owners will have much greater participation in the direction of the company. They can leverage their day-to-day management and sales expertise to both strengthen existing client relationships and develop new ones."

Founded in 1984, ExecuTrain is the world's leading business software education company. The company's comprehensive, customer-focused solutions include instructor-led and technology-based training, as well as course development and training on client-specific software applications.

Headquartered in Alpharetta, Ga., privately held ExecuTrain has more than 230 franchised and company-owned locations in 35 countries, and has trained more than 10 million people worldwide.